Match Group’s deal with OpenAI is just business with AI glitter on top

Equity

TechCrunch

Entrepreneurship, Business News, News, Business, Technology

4.2 • 372 Ratings

🗓️ 23 February 2024

⏱️ 32 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

This week Mary Ann, Kirsten, and Alex gathered to chat through a massive sheaf of news. A note before we get to the rundown that Reddit filed to go public after we had recorded this episode, so notes on its IPO filing are not included in this particular episode. Don’t think that we won’t discuss its S-1, it just came too late for this particular entry. More to come! Here’s the rundown: Deals of the Week: PermitFlow raised $31 million to bring software to the construction permitting market, one man’s plan to keep Cake ebike’s alive for just a while longer caught our eye, and we had thoughts about Match Group’s tie-up with OpenAI. Fintech drama: With Reddit’s IPO in the hopper, eyes are turning to other companies that are expected to list this year. One such company is Klarna. And, the buy now, pay later company has been the latest recipient of governance drama. Former Sequoia leader Michael Moritz won this round, unsurprisingly. Video game startups could prove surprise 2024 winner: While the venture market retreats and venture funding for gaming companies slows, there’s good reason to expect fortunes to turn around for the startup genre. And while venture wallets might open for gaming companies this year, some others like Frost Giant are turning to their own community to raise. More to come, including Reddit IPO notes! For episode transcripts and more, head to Equity’s Simplecast website. Equity drops at 7 a.m. PT every Monday, Wednesday and Friday, so subscribe to us on Apple Podcasts, Overcast, Spotify and all the casts. TechCrunch also has a great show on crypto, a show that interviews founders and more! Credits: Equity is produced by Theresa Loconsolo with editing by Kell. Bryce Durbin is our Illustrator. We'd also like to thank the audience development team and Henry Pickavet, who manages TechCrunch audio products. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Hello and welcome back to Equity, a podcast about the business of startups where we
0:15.1	unpack the numbers and the nuance behind the headlines. Today is February 23rd.
0:20.1	My name is Alex and I'm joined today by the usual power trio. In one corner we have the Pride of Texas, it's Mary Ann As a Beto.
0:27.0	Mary Ann, hey.
0:28.0	Hi Alex, I can't help but chuckle at being called The Pride of Texas.
0:32.0	As I always tell you, you're my favorite Texan and therefore you're the best one.
0:36.0	We also have Kirsten Cora sec. Kirsten, how are you doing?
0:39.0	Great, um, great for me actually, Alex, but not so good if you're trying to sell premium
0:44.1	e.vies as you might have noticed with some of our coverage earlier this week
0:48.1	about Rivian and Lucid. Yeah we'll talk about more evies down the road but not the
0:52.0	four wheel variety instead we'll talk about more EVs down the road, but not the four wheel variety.
0:53.0	Instead, we'll talk about those that only have two on the show today.
0:56.3	We do have deals of the week from Permit Flow, Cake,
0:58.9	and then what Match Group is doing with Open AI.
1:01.9	And then for our first major section of the show today, we're going to discuss what happened
1:05.6	with Klarna and Sequoia, and then we're going to close with notes on venture-backed gaming and
1:10.2	why gaming companies could be in good straits for 2024.
1:14.3	But Marianne, you have put my most hated words into a headline, and so I want to start with
1:18.8	you because you put TurboTax into a startup headline and I want to know why.
1:24.0	Well, I was, I wrote an article about a company called Permit Flow,
1:29.0	and I guess you can tell from the headline,
1:32.0	they are focused on permitting, specifically construction permitting, and they claim to be building the turbo tax for construction permitting.
	...

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